Foreign Investors Buy Amid Goldilocks Expectations... KOSDAQ Hits New Record High Again

[Asia Economy Reporter Ji Yeon-jin] The KOSDAQ index hit a new record high again on the 5th.

On that day, the KOSDAQ index was trading at 1,044.51, up 6.33 points (0.61%) from the previous trading day. The KOSDAQ index opened slightly higher and recorded 1,045.07 during the session as foreign investors increased their buying. Since breaking through 1,000 in mid-last month, it has shown an upward trend for six consecutive trading days from the 25th, continuously setting new highs. On this day, individual investors sold a net 33.5 billion KRW, while foreigners and institutions bought net amounts of 41.9 billion KRW and 1.3 billion KRW, respectively.

Kakao Games is rising 11.73% following its new game's app market sales ranking first place, and Celltrion Healthcare (2.53%) and Celltrion Pharm (3.69%) are also showing strong performance. Among the top market capitalization stocks on KOSDAQ, all except Seegene (-0.24%) are recording gains.

Seonghoon Seo, a researcher at Samsung Securities, said, "The domestic materials sector, which has undergone a prior adjustment recently, has the advantage of continued profit growth in the second half of the year," adding, "It is also worth considering that the KOSDAQ's rise has been less pronounced compared to the KOSPI, which has set new highs."

The KOSPI index was at 3,295.95 at 10:30 a.m., up 14.71 points (0.43%) from the previous close. The index opened higher supported by net buying from individual investors, and the gains expanded as institutional investors increased their purchases during the session. As of this time, institutions are net buyers of approximately 197.6 billion KRW, while individuals have turned to net sellers with 188 billion KRW. Foreigners are net sellers of about 6.1 billion KRW.

In the KOSPI market, large-cap stocks (0.57%) are showing strength, with the transportation and warehousing sector (2.51%) recording the largest gains. In particular, HMM is rising more than 5% amid expectations that the container shipping industry boom will continue for a long time.

Among the top market capitalization stocks, Celltrion rose the most at 3.01%, followed by Samsung Electronics (0.75%), SK Hynix (0.82%), and LG Chem (1.77%) showing upward trends. Kakao (-0.63%), Samsung Biologics (-0.12%), Hyundai Motor (-0.63%), and Kia Motors (-1.0%) are showing weakness.

Jinwoo Lee, a researcher at Meritz Securities, said, "Although there are mixed interpretations of the U.S. labor market, the risk appetite continues as there are no signs of economic improvement abnormalities, as seen in the interest rate reaction," adding, "Looking at recent market stock characteristics, the market is diversifying from the dichotomy of cyclical and growth stocks to a focus on earnings, moving gradually based on earnings rather than macro issues."

This content was produced with the assistance of AI translation services.